Assetmark Inc. Acquires New Shares in United Microelectronics Co. (NYSE:UMC)

Assetmark Inc. bought a new position in United Microelectronics Co. (NYSE:UMC) in the third quarter, HoldingsChannel reports. The fund bought 4,432 shares of the semiconductor company’s stock, valued at approximately $37,000.

Other large investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its stake in shares of United Microelectronics by 1.3% in the second quarter. Sequoia Financial Advisors LLC now owns 102,206 shares of the semiconductor company’s stock valued at $895,000 after buying an additional 1,333 shares during the period. Ignite Planners LLC increased its position in United Microelectronics by 1.5% in the 3rd quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company’s stock valued at $760,000 after acquiring an additional 1,360 shares during the period. Commonwealth Equity Services LLC increased its position in United Microelectronics by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock valued at $626,000 after acquiring an additional 1,756 shares during the period. Hennessy Advisors Inc. lifted its holdings in shares of United Microelectronics by 13.3% during the second quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company’s stock worth $137,000 after purchasing an additional 1,836 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in shares of United Microelectronics by 3.3% in the second quarter. Johnson Investment Counsel Inc. now owns 57,700 shares of the semiconductor company’s stock worth $505,000 after purchasing an additional 1,865 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UMC. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a report on Thursday, October 17th. Finally, Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

UMC stock opened at $6.95 on Tuesday. The firm has a market cap of $17.40 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. United Microelectronics Co. has a 1-year low of $6.78 and a 1-year high of $9.00. The stock has a 50-day moving average price of $7.90 and a 200-day moving average price of $8.22. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

United Microelectronics Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.